Buying Ripple at Bitvavo
Do you want to buy Ripple with Bitvavo? You can! On this page, we’ll discuss how to quickly buy your first Ripple (XRP) using your Bitvavo account.
Buying Ripple at Bitvavo
Before you can buy Ripple, you first need an account with Bitvavo. Fortunately, opening an account at Bitvavo is completely free. Use the button below to open an account at Bitvavo & pay no buying or selling fees on your first €1000, of transactions:
After you have opened an account, you still need to verify it. You do this by uploading your proof of identity and by confirming your mobile number. Need help with this? Read this article for more information on opening an account with Bitvavo.
At Bitvavo, you can buy XRP for as little as €1. Press the deposit button and enter the amount you wish to deposit to your Bitvavo account.
Buying Ripple (XRP)
Navigate to XRP in the crypto overview and click on buy. Then enter the amount you want to buy Ripple for. You will never pay more than 0.25% in transaction fees at Bitvavo.
Current Bitvavo Ripple price
What is Ripple?
Ripple is a fairly unique crypto, as it is not decentralized. Many cryptocurrencies have the unique selling point that they are completely decentralized. It is then not possible for one party to control the crypto.
Ripple (XRP), on the other hand, is centralized. XRP is issued by the Ripple company, which was founded in California in 2021. The goal of this company is to improve rather than replace existing payment services. For example, XRP would make it much cheaper to conduct international transactions.
No new Ripple coins are introduced to market by mining. All Ripple coming to the market have already been created by the Ripple Foundation and can be released by this organization.
Why should you buy Ripple?
Ripple wants to become the common, international currency. You can use Ripple to make international transactions cheaper and faster. For example, you can exchange Japanese Yen for Ripple, which you then exchange for euros. If you performed this transaction without XRP through the bank, you would pay high transaction fees.
Still, as with all other cryptocurrencies, it is important to be cautious. Ripple is very volatile, and its future success will depend on how many parties embrace XRP. Ripple is certainly not a safe or stable investment: only invest with money you can afford to lose in this crypto.
You can store XRP in both online wallets and offline wallets. Especially when you invest large amounts in Ripple, it can be interesting to store a portion in offline wallets. This way you prevent a hacker from breaking in and capturing a large part of your cryptos.
When you invest in Ripple, it is also important to apply a good strategy. Blindly investing all your money in XRP likely leads to losses. Timing the market is very difficult, so spreading buying opportunities can be a good move for many investors.